Visa Inc (V) is a global payment system providing access to fast, secure and reliable electronic payments network. Its revenue consists of commission fees charged from clients. Visa manages a portfolio of the following brands: Visa, Visa Electron, PLUS and Interlink.The company recently released strong results for Q3 2015. Revenue increased by 11.5% y-o-y to USD 3.52 bn. Adjusted EPS rose 37.0% y-o-y to USD 0.74, outpacing the forecast by 26%. All divisions reported growth, although international segment became the key revenue growth driver (+21%).Visa generates a significant cash flow, which allows it to pay dividends and buy back its own shares. Visa raised quarterly dividend by 20% to USD 0.12, yielding 0.6%. The company continues to buy back its own shares, Visa spent USD 1.1 bn for this purpose in the reporting quarter and USD 2.9 bn over nine months of 2015. The company has USD 2.8 bn left for the buyback. We believe that the company will continue to improve its financial performance in future. This factor, along with higher dividend and continuing buyback program, will boost Visa (V) shares in the mid-term. We raised our fundamental valuation of the name to USD 83. The short-term technical target is USD 80.